TMI Blog2017 (9) TMI 1524X X X X Extracts X X X X X X X X Extracts X X X X ..... ese suppliers were directly delivered by the representative of the suppliers at the factory itself. No octroi was payable as goods were delivered within the limits of Mumbai Municipality. I also found that assessee has shown very good GP rate on the sales affected by it during the year at 25.18% in the A.Y.2010-11 and 23.26% in the A.Y.2009-10. Thus modify both the orders of the lower authorities and direct AO to restrict the addition to the extent of 10% of such bogus purchases. - Decided partly in favour of assessee. - ITA No.2825/Mum/2017, ITA No.2857/Mum/2017, ITA No.3374/Mum/2017 And ITA No.3202/Mum/2017 - - - Dated:- 20-9-2017 - SHRI R.C.SHARMA, AM For The Assessee : Shri M.S.Mathuria For The Revenue : Shri S.K. Mitra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cumstance of the case and in law id . CIT ( A ) was right in restricting the disallowance made on account of bogus purchase made by the assessee to 12 . 5 % of the total purchases made without appreciating the fact that it is an established fact that the parties from whom the purchases shown to have been made are bogus parties who are engaged in issue of accommodation bills without actual supply of material . ii) Whether on the facts and circumstance of the case and in law Ld . CIT ( A ) was right in restricting the disallowance made on account of bogus purchase made by the assessee to 12 . 5 % of fie total purchases made without appreciating the fact that in cases where sales are not doubted the onus lie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2 ) Whether on the facts and circumstance of the case and in law Ld . CIT ( A ) was right in restricting the disallowance made on account of bogus purchase made by the assessee to 12 . 5 % of the total purchases made without appreciating the finding given by the A . O . in the assessment order that presently the suppliers are not available at the given addresses as also the assessee failed to produce these suppliers before the A . O . for verification . 3 . Whether on the facts and circumstances of the case and in law Ld . CIT ( A ) was right I restricting the disallowance made on account of bogus purchase made by the assessee to 12 . 5 % of the total purchases made without taking into ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... price or inflation in consumption or suppression of the production. Payment for purchases was made to the suppliers through account payee cheques and there is no cash payment to suppliers. Price quoted by the suppliers is on the basis of factory delivery of the assessees - goods were directly delivered by the representative of the suppliers at the factory of the assessees. Furthermore, no octroi payable as goods are delivered within limits of Mumbai Municipality. 7. Our attention was invited to the gross profit shown at 25.18% in the A.Y.2010-11 and 23.36% in the A.Y.2009-10. As per learned AR assessee has already shown higher gross profit on the sales which is better than the gross profit shown by the assessee having similar nature of b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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